Difference between Udyog Aadhar and Udyam

Here we will solve your query on whether Udyog Aadhar and Udyam are the same or different. Our Indian Government has changed some of the business portfolios and altered the meaning of MSME. The Government has introduced many ways of business registration, but we should know the difference among all forms. We will give you individually all the details about Udyog Aadhar and Udyam.

For further information and to know the difference between Udyog Aadhar and Udyam read the following information it will clear all your doubts.

What is Udyog Aadhar?

Udyog Aadhar is a government registration that provides an acknowledgment certificate and gives a unique number to verify micro, small, and medium enterprises.

What is Udyam?

Udyam Registration is a new way to register MSME or Udyog Aadhar. It is also known as registration for MSME. To register, the firm’s proprietor will give their 12-digit Aadhar number and get a unique number within an acknowledgment certificate.

Udyam Registration’s key objective is to make the process easy for registration and save time. It will make it easy for small-scale business owners to register their firms under Micro Small Medium Enterprise or MSME.

Are the Udyog Aadhar and Udyam are same?

Above, we define both UdyamAadhar and Udyam Registration. So yes, both are the same, or we can say Udyam Registration replaces Udyog Aadhar as per new government policies. According to the notification of MSME on 26th June 2020, the new method of MSME Udyam Registration was launched by the Ministry of Micro, Small, and Medium Enterprises and will operate from 1st July 2020.

Udyam Registration is the change of the old method of the Udyog Aadhar registration that comes under MSME.

Is there any difference between Udyam Aadhar and Udyam?

Yes, some differences occur in registration methods here; we will explain to you to understand them conveniently-

In UdyamAadhar, the registration method is more puzzling creates confusion, and takes more time because there are many groups and numerous pages to go through. All the things need a lot of paperwork, and uploading the documents on the portal consumes more time.
In contrast, Udyam registration is a single-window process. There is no need for paperwork and no additional documents and certificates needed to register under MSME.

Furthermore, Udyog Aadhar and Udyam are not the same; instead, Udyam Registration is the updated version of Udyog Aadhar registration. It is the new way of registration under MSME.

As per new guidelines, existing activities that have recorded Entrepreneurship Memorandum-I or Entrepreneurship Memorandum-II or the owners of small-scale industry registration, registered under the MSME Development Act,27 of 2006, have to re-register Udyam again to get the benefit of government policies.

How can you re-register your business under Udyam?

Visit the Udyan Registration portal.
To make a registration, get your unique identity number.
After entering your Udyog Aadhar number, fill out the form with all the valid information.
Now pay the registration fee digitally.
One of our executives will check your application and will move to another process.
Within 1 or 2 hours, you will get your registration certificate in your registered email.

How many documents are necessary to get Udyam Registration?

To make a registration, you have to submit the following documents information along with the MSME registration form-

Aadhar Card copy of owner individual or partner/directors duly linked with a mobile no inactive.

Pan Card copy of individuals or partners or directors.

How much time will it take?

Eventually, it takes four to five days after applying. On your registered E-mail or contact number, you will get a further notification with your registration number. After that, the process will take around 15 days to complete the entire remaining process.

What is the method to get a Udyam Registration Certificate?

It is straightforward to get a Udyam Registration Certificate; follow the below method to get a certificate-

To open the Udyam Registration site, we will find a form to fill in all the information in that form.

Enter your 19-digit Udyam Registration Number.

Enter the mobile number that you have mentioned in the Udyam application.

Now tick on the option to get OTP.

Here, click on Validate and Generate OTP button, and you will get OTP on your selected option.

When you correctly enter your OTP, you will be auto-redirected to the print certificate.

A business entity registered with any other organization under the Ministry of MSME shall register itself under Udyam Registration. Who is eligible for getting a Certificate?

Every single business unit that adds a one-person company, ownership, partnership firm, manufacturer, producer, limited company, private limited company, limited liability partnership firm, an association of individuals, retailers, Hindu Undivided Family, or any other enterprise is eligible to get a Udyam Certificate.

Which type of business is not coming under Udyam Registration?

Here are some businesses that are not eligible for it according to MSME guidelines. The companies are the production of eggs, poultry incubators, bee-keeping and production of honey and beeswax, raising of silkworms, production of silkworm cocoons, etc.

Advantages of Udyam Registration:

The advantages mentioned by the Ministry under Udyam are the following-

The owner of the business gets benefits from delaying.
From the bank, they can make free insurance credits.
The business owner can use Octori’s motivations.
The electricity charges for the business can be less if the owner has a Udyam registration certificate.
Business owners have to pay only 1% of overdraft loan costs.
Entrepreneurs can initiate simple bank deals.
To get an ISO verification by overlooking the installment you made.
To get registration for some of the selective gatherings.
The business entity can be part of worldwide business affairs.
If the entrepreneur makes bids for government tenders, they can get the benefit of tender clearance.

The Concluding Statement:

We are hoping this article will clarify about Udyog Aadhar and Udyam Registration differences. The Indian Government is working on various guidelines for small-scale business enterprise holders and thus giving more and more opportunities. If you are a small-scale business professional and have not registered on Udyam as yet, it is the best time to do so and get benefits from government policies.

Stay tuned with us for more.